Scientech Research LLC Has $1.13 Million Position in Freshpet, Inc. (NASDAQ:FRPT)

Scientech Research LLC boosted its holdings in Freshpet, Inc. (NASDAQ:FRPT) by 133.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,742 shares of the company’s stock after buying an additional 5,002 shares during the quarter. Scientech Research LLC’s holdings in Freshpet were worth $1,131,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of Freshpet by 100.8% in the 1st quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock valued at $30,000 after buying an additional 132 shares during the last quarter. ORG Partners LLC bought a new stake in Freshpet in the second quarter valued at approximately $32,000. Quarry LP acquired a new stake in Freshpet during the 4th quarter valued at approximately $40,000. Whittier Trust Co. bought a new position in Freshpet during the 1st quarter worth approximately $41,000. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in Freshpet by 3,670.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company’s stock worth $49,000 after purchasing an additional 367 shares during the last quarter.

Freshpet Trading Down 0.1 %

FRPT opened at $135.74 on Friday. Freshpet, Inc. has a fifty-two week low of $54.60 and a fifty-two week high of $144.38. The firm has a market capitalization of $6.57 billion, a PE ratio of 754.11 and a beta of 1.39. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.50 and a quick ratio of 3.69. The company’s 50-day moving average is $132.03 and its 200 day moving average is $124.39.

Freshpet (NASDAQ:FRPT) last posted its earnings results on Monday, August 5th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.06. Freshpet had a return on equity of 1.78% and a net margin of 2.86%. The company had revenue of $235.30 million for the quarter, compared to analyst estimates of $230.99 million. During the same quarter last year, the company earned ($0.35) earnings per share. The company’s revenue for the quarter was up 28.4% on a year-over-year basis. As a group, research analysts predict that Freshpet, Inc. will post 0.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Stephen Macchiaverna sold 2,178 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $140.01, for a total value of $304,941.78. Following the completion of the sale, the executive vice president now owns 86,039 shares in the company, valued at approximately $12,046,320.39. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

FRPT has been the subject of several recent analyst reports. Wells Fargo & Company increased their price objective on shares of Freshpet from $140.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Benchmark reiterated a “buy” rating and set a $150.00 price target on shares of Freshpet in a report on Wednesday, August 7th. Citigroup boosted their price objective on Freshpet from $124.00 to $129.00 and gave the company a “neutral” rating in a research note on Wednesday, July 17th. Piper Sandler restated an “overweight” rating and set a $150.00 target price on shares of Freshpet in a research report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. lifted their target price on Freshpet from $113.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $142.87.

Freshpet Company Profile

Freshpet, Inc, together with its subsidiaries, manufactures, distributes, and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. It sells dog food, cat food, and dog treats under the Freshpet brand name; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.